Housewares Distributor Buys $16M Facility

SYLMAR, CA-A housewares distributor has acquired a 207,108-sf industrial facility at 13955 Balboa Blvd. in the Cascades Business Park from Balboa Cascades LLC, a unit of Newport Beach-based Alere Properties for $16 million. David Hoffberg and Jerry Scullin of Delphi Business Properties, who represented both the buyer and the seller, report that the buyer was Sylmar Cascades Properties LP, which includes principals of the housewares distributor.Approximately 102,000 sf of the space in the building is occupied by Esterline Mason Electric, which has nine years remaining on its lease. The 207,108-sf building was constructed in 2000 and is one of two that were developed in the Cascades Business Park by Prudential Insurance. The concrete tilt-up building features approximately 35,000 sf of office space. The Sylmar deal was one of three to close lately in the industrial submarkets of Los Angeles, including a 57,000-sf property in Chatsworth that sold for $7 million, according to Jack Schlaifer of the LA North/Ventura office of Lee & Associates. The property is a 14-unit industrial complex fronting Plummer Street and Irondale Avenue. A locally based private investor bought the project from another local investor in a deal brokered by Schlaifer and Randy Kobata of Lee. The Lee brokers represented the seller, Herman Bennett Trust. The units, which range from 2,000 sf to 7,700 sf per suite, have attracted light assembly, distribution and warehousing clients. The buyer, South Beverly Glen LLC was represented by Don Thordarson of Don Thordarson Inc. In the third deal, moving firm International Shipping bought a 105,605-sf building at 13500 S. Figueroa St. in Gardena for $6.8 million in a transaction brokered by F. Ronald Rader of the Los Angeles office of the Klabin Co., along with Klabin's David Grote and Aleks Trifunovic. The property drew nine offers in three weeks, Rader notes. The Klabin brokers represented the seller Light House Properties, with Dan Weil of Weil Commercial representing the buyer.